Dudley Building Society releases new mortgage products

These include residential, holiday let, and buy-to-let products

Dudley Building Society releases new mortgage products

As part of its phased return to the mortgage market, Dudley Building Society has launched three new mortgage products.

The new residential product offers a 1.10% discount on the residential SVR, with a maximum loan-to-value (LTV) of 90%, while the new buy-to-let and holiday let products both have a 0.75% discount on the buy-to-let SVR, with maximum LTVs of 80%.

The lender said affordability on the holiday let product is assessed on holiday let income.

Dudley paused new applications in August last year after receiving an unprecedented number of applications. It sought to improve service levels, and now implements a 48-hour SLA for each stage of the process.

Prior to the launch of these products, the mutual also launched a semi-exclusive residential ex-pat product, with a 1.00% discount for term and a maximum LTV of 80%.

“Our new range of products have been designed to meet the needs of a range of applicants, whether they are a first-time landlord looking to purchase their first buy-to-let property, or an ex-pat with complex income purchasing a home for their family in the UK,” Robert Oliver (pictured), distribution director at Dudley Building Society, said.

“Ensuring that we meet the service needs of our partners and their clients is our top priority as we move forwards, and we are dedicated to maintaining 48-hour SLAs. We look forwards to continuing to expand our product range to meet the needs of our partners.”

Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter.